Savills has announced that its 26 March auction will be held via remote bidding only, in response to the latest guidance on Covid-19.
The firm said the 26 March auction would run in its normal fashion with an auctioneer conducting the bidding. Buyers will be able to bid for the 114 lots via telephone, online or by submitting a proxy bid. As is the case with all Savills auctions, there will be a live video stream available on its website as well as live results.
Savills is the second firm to adopt this approach, after Allsop announced this morning that its March sales would offer remote bidding only.
Savills said it had made a number of important changes to make registration as easy as possible:
- Registration for remote bidding can be done via e-mail
- Bidders will not be required to provide cheques upfront and instead successful purchasers will be legally bound to transfer the deposit by 5pm on Monday 30 March 2020
- Bidders can register to bid up to 3pm on the day before the auction
- As a result, Savills is requiring additional information upfront and has strengthened the conditions regarding the contract in the bidder’s agreement
- If bidders are registered for one property but are unsuccessful, Savills will give the flexibility to bid on other properties as they would do in the auction room.
Bidders will need to complete a remote bidding pack and e-mail the required ID documentation no later than 3pm on 25 March.
Savills said its viewing schedule remains unchanged unless bidders are notified otherwise. Those who are intending to view a property ahead of the sale should ensure that they are following the most up-to-date official guidance, it added.
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